401k Contributions 2024 Limits In India. Contributions to your 401k can lower your taxable income, potentially reducing your tax. The contribution limit for 401 (k)s, 403 (b)s, most 457 plans and the federal government's thrift savings plan is $23,000 for 2024, up from $22,500 in 2023.
The total maximum allowable contribution to a defined contribution plan (including both employee and employer contributions) is expected to rise by $2,000. The 401 (k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year.