Flsa Minimum Salary For Exempt Employees 2024. On april 26, 2024, the department of labor’s wage and hour division (dol) issued a final rule that will increase the minimum salary threshold for the “white collar” overtime exemption under the fair labor standards act (flsa) from $35,568 to $58,656 per year. The fair labor standards act ( flsa) is a federal law that establishes overtime pay eligibility, alongside minimum wage, recordkeeping requirements, and child labor laws.
Department of labor (“dol”) released a new final rule that significantly increases the minimum salary threshold to qualify for the executive, administrative, professional, and highly compensated employee exemptions under the fair labor standards act (“flsa”). Under the new final rule, to qualify for the eap exemption going forward, employees must be paid a salary of at least $844 per week (or $43,888 per year) effective july 1, 2024, which increases to $1,128 per week (or $58,656 annually) starting january 1, 2025.
That Amount Rises Again On January.
Department of labor (dol) finalized a rule on april 23, 2024, setting the standard salary level for the “white collar” exemptions under the flsa at $844/week as of july 1, 2024 (up from the current $684/week).
1, 2025, The Threshold Will Rise Further To $1,128 Per Week ($58,656 Annualized)
Department of labor (dol) unveiled a new final rule that will significantly raise the minimum salary threshold to qualify for certain overtime exemptions under the fair labor standards act (flsa), changing which employees will be entitled to overtime pay and affecting employer compensation structures.
Following Proposed Rulemaking In August 2023, The U.s.
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Six Months Later, On January 1, 2025, The Salary Threshold Will Increase Again To $58,656.
Department of labor (“dol”) released a new final rule that significantly increases the minimum salary threshold to qualify for the executive, administrative, professional, and highly compensated employee exemptions under the fair labor standards act (“flsa”).
The Current Threshold Is $684 Per Week ($35,568 Annualized).
Read on to find out.
The New Proposed Rule Raised The Minimum Salary Floor To $55,068 Per Year ($1,059 Per Week) For Employees Classified As Exempt Effective July 1, 2024.