Dol Minimum Salary For Exempt Employees 2024. Beginning july 1, 2024, the new dol rule increases the salary threshold, making millions of previously exempt employees nonexempt from overtime pay. 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).
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 requirements), can. 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”.
The Final Rule Is Expected In April, 2024.
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 requirements), can.
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”.
The new rules increase the minimum salary from the current level of $684 per week (about $35,568 per year) to $844 per week (about $43,888 per year).
Workers Who Do Not Earn At Least $43,888 ($844 A Week) As Of July 1, 2024, Will Have To.
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The Overtime Rule Raises The Standard Salary Threshold In Two Phases.
The july 1 increase updates the present annual salary threshold of $35,568 based on the methodology used.
The Minimum Salary Required To Be Paid To An Eap Employee For That Employee To Be Exempt From The Flsa Overtime Requirements Would Be $1,059 Per Week ($55,068.
Beginning july 1, 2024, the new dol rule increases the salary threshold, making millions of previously exempt employees nonexempt from overtime pay.
The Current Salary Threshold For Exempt Status For Executive, Administrative, And Professional (Eap) Positions Is $684.