Highly Compensated Employee Limit 2024. The irs defines a highly compensated employee as someone who meets either of the following criteria : In the old tax regime, the income tax exemption limit is ₹3 lakh for senior citizens aged above 60 but less than 80 and ₹5 lakh for super senior citizens aged above 80.
Employers can also designate the top 20% of earners in the. The irs defines a highly compensated, or “key,” employee according to the following criteria: