Exempt Employees Minimum Salary Requirements For 2024
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Exempt Employees Minimum Salary Requirements For 2024. On april 23, 2024, the u.s. The final rule is expected in april, 2024.
Minimum salary requirements for 2023. On april 23, 2024, the u.s.
Under Dol’s New Rule, To Be Exempt From Overtime, An Employee Will Need Make At Least $844/Week ($43,888/Year) Beginning On July 1, 2024.
Raise the exempt employee’s salary to meet the proposed minimum salary.
There Is No Change To The Federal Minimum Salaries For Exempt Employees.
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.
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Prior To July 1, 2024, Review The Salary Amounts Paid To Any Employees Who Are Currently Treated As Exempt From The Flsa Overtime And Minimum Wage.
It is important to note that paying.
The Minimum Salary For Application Of The Highly Compensated Employee (Hce) Exemption Would Jump By 34%, From $107,432 Per Year To $143,988 Per Year.
Effective july 1, 2024, the minimum salary threshold for exempt employees will increase from $35,568 to $43,888.
Raise The Exempt Employee’s Salary To Meet The Proposed Minimum Salary.
