New Minimum Salary For Exempt Employees 2024. Department of labor (dol) announced a notice of proposed rulemaking, to increase the. The new rule increases the minimum total compensation threshold for.
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. Effective july 1, 2024, the final rule increases the minimum salary required for the flsa’s executive, administrative and professional exemptions to $844 per week.
As Of April 23, The Dol Has Set A New Schedule To Increase The Minimum Salary For Exempt Employees.
For administrative, executive, and professional employees, the minimum salary for exempt status will increase from $684 per week to $844 per week ($43,888.
Specifically, The Proposed Rule Would Increase The Minimum Salary Required To Be Paid To An Executive, Administrative, Or Professional Employee In Order For That.
The new minimum salary for exempt employees will be set at $43, 888.00.
New Minimum Salary For Exempt Employees 2024 Images References :
Employers That Have Exempt Workers Who Earn More Than $684 Per Week, But Less Than The New Salary Thresholds Of The Final Rule (And Who Satisfy The Duties.
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.
The New Rule Increases The Minimum Total Compensation Threshold For.
Effective july 1, 2024, the final rule increases the minimum salary required for the flsa’s executive, administrative and professional exemptions to $844 per week.