Your employer should provide you with the accurate amount.
The FICA Tax Withholding Rates:
- The Social Security portion is your gross pay times 6.2% up to the maximum pay level for that year.
- The Medicare rate is your gross pay times 1.45 %, with a possible increased 0.9% for high income employees.
- Therefore, there is a total of 7.65% withholding, based on the employee's gross pay.
@abhinav1309
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
