2024 Fica And Medicare Tax Rates In India. Tax rates for each social security trust fund.  — the 2024 rate for the medicare tax is set at 1.45% of an employee’s gross earnings, and the employer portion matches that 1.45%.

You’re typically responsible for paying half of this amount (1.45%), and your employer is responsible for the other half. An additional medicare tax applies to employees whose wages exceed the specific threshold limits,.