On april 23, the department of labor (dol) issued its final rule to alter the overtime pay regulations under the flsa. The final rule increases the salary threshold required to exempt a bona fide executive, administrative, or professional employee from federal overtime requirements.
The current salary threshold for exempt status for executive, administrative, and professional (eap) positions is $684. On april 23, 2024, the u.s.
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.
Effective july 1, 2024, the salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on jan.
On April 23, 2024, The U.s.
On august 30, 2023, the dol released a proposed rule that, if finalized, would increase the minimum salary required to $1,059 per week in order for.
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Department Of Labor (Dol) Announced It Intends To Significantly Raise The Exempt Salary Threshold From $684 Per Week To $1,059 Under A New.
The salary level will then increase to $58,656 on january 1, 2025.
As Summer Looms Near, Employers Of Salaried Workers Would Be Wise To Prepare For Anticipated Increases To The Salary Basis Threshold For Certain Categories Of.
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.