New Minimum Salary For Exempt Employees 2024. On april 23, 2024, the u.s. The salary threshold for employees exempt from the fair labor standards act under the executive, administrative, and professional (eap) exemption will increase from $684 per week.
Under the new rule, the salary level threshold increases to $844 per week (equivalent to $43,888 annually ), effective july 1, 2024 , to be exempt from overtime compensation requirements. Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act (flsa) overtime rules.
Department Of Labor (“Dol”) Released A New Final Rule That Significantly Increases The Minimum Salary Threshold To Qualify For The Executive,.
On april 23, 2024, the u.s.
The Updated Rule Will Also Raise The Salary Threshold For The “Highly.
The final threshold will increase again on january 1, 2025, to a minimum salary of $1,128 per week ($58,656 per annum).
New Minimum Salary For Exempt Employees 2024 Images References :
In April 2024, The Department Of Labor (Dol) Issued Its Final Rule Raising The Threshold Salary Requirements Under The Fair Labor Standards Act (Flsa) For Employees Classified As Exempt.
As of april 23, the dol has set a new schedule to increase the minimum salary for exempt employees.
This Means Also Ensuring On A Case By Case Basis Whether Those.
The new rule will also raise the minimum annual salary threshold for the hce exemption to $132,964 per year starting july 1, 2024, which will also increase automatically on january 1,.