The proposed rule would guarantee overtime pay for most salaried workers earning less than $1,059 per week, about $55,000 per year. The 2024 dol rule raises the minimum weekly salary for the eap exemption from $684 per week to $844 per week, or the equivalent salary of $43,888 per year, on.
Effective july 1, 2024, the salary threshold will increase from the current level of $684 per week ($35,568 annualized) to $844 per week ($43,888 annualized). The new threshold applies to standard salary level exempt employees.
$684 Per Week (Equivalent To $35,568.
On april 23, 2024, the u.s.
The Current Threshold Of About $35,500.
This fact sheet provides information on the salary basis requirement for the exemption from minimum wage and overtime pay provided by section 13(a)(1) of the flsa as defined.
Images References :
Department Of Labor (Dol) Released A Notice Of Proposed Rulemaking (Nprm) That Would Significantly Raise The Minimum Weekly Salary To Qualify.
The salary threshold for flsa exemptions for highly compensated employees will increase to $151,164/year.
The Rule Also Establishes Automatic Increases In The Salary Threshold Every Three Years To Reflect Wage Growth.
Department of labor (dol) unveiled a new final rule that will significantly raise the minimum salary threshold to qualify for certain overtime.
