2024 401k Max Contribution In India. If you contribute, say, $23,000 toward your 401 (k) in 2024 and your employer adds $5,000, you’re still within the irs limits. The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax penalties.

Contributions to 401 (k)s can be automatically deducted from your paycheck. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.