According to the Social Security Administration, the maximum limit on earnings for withholding of Social Security (old-age, survivors, and disability insurance) tax for 2023 is $160,200.00. This means that an individual with wages equal to or larger than $160,200 would contribute $9,932.40 to the OASDI program in 2023, and their employer would contribute the same amount. The FICA tax rate for both employers and employees is 7.65% (6.2% for OASDI and 1.45% for Medicare) .