Minimum Salary For Exempt Employees 2024
Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act (flsa). As we previously reported on april 30th, the department of labor (dol) announced its final rule increasing the minimum salary threshold for executive,.
The updated rule will also raise the. A further increase will take effect on january.
The Minimum Salary Required For Exemption Is Two Times The State Minimum Wage For The First 40 Hours Of Employment Each Week.
Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act (flsa).
To Qualify For Exemption, Employees Generally Must Meet Certain Tests Regarding Their Job Duties And Be Paid On A Salary Basis At Not Less Than $684* Per Week.
The rule increases this minimum salary threshold, initially to $844 per week ($43,888 per year) as of july 1, 2024, and then to $1,128 per week ($58,656 per year).
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Department Of Labor Issued Final Regulations Updating The Minimum Salary Threshold For Employees To Be Considered Exempt From Overtime.
Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act (flsa).
A Further Increase Will Take Effect On January.
As we previously reported on april 30th, the department of labor (dol) announced its final rule increasing the minimum salary threshold for executive,.