New Flsa Salary Threshold 2024. The final rule did not modify the salary basis test or the duties test provisions but did increase the salary level amounts an employee must be paid to be paid in order. Department of labor (through its wage & hour division) has finalized the fair labor standards act (flsa) to include a new earnings.
As expected, the final rule raises the minimum salary. 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.
The Department’s Final Rule, Which Will Go Into Effect On July 1, 2024, Will Increase The Standard Salary Level That Helps Define And Delimit Which Salaried Workers.
Flsa rule changes become effective july 1, 2024.
Under Federal Law, Employers Must Meet A Salary Threshold To Maintain An Employee’s Administrative, Executive Or Professional Exemption, Referred To As The “White.
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.
New Flsa Salary Threshold 2024 Images References :
In April 2024, The Department Issued A Final Rule Increasing The Standard Salary Level For Exemption, And The Total Annual Compensation Requirement For Highly Compensated.
The new salary threshold will take effect in two steps.
On July 1, 2024, The Department Of Labor's Rule Raising The Salary Threshold For Workers To Be Exempt From The Overtime Requirements Of The Fair Labor Standards.
Effective july 1, 2024, the flsa salary threshold will increase to $43,888, and to $58, 656 ($1128 per week) effective january 1, 2025.