Flsa Salary Threshold 2024. Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act (flsa) overtime rules. Department of labor (dol) unveiled a new final rule that will significantly raise the minimum salary threshold to qualify for certain overtime exemptions under the fair labor standards act (flsa), changing which employees will be entitled to overtime pay and affecting employer compensation structures.
There is no limit in the act on the number of hours employees aged 16 and older may work in any workweek. Beginning july 1, 2027, the salary thresholds will automatically update every three.
However, It's The Only Exemption That Allows Qualifying Exempt Employees To Be Paid Hourly Instead Of Salaried, As Long As Their Hourly Rate Is At Least.
The rule increases the salary level below which an employee is automatically subject to the fair labor standards act’s overtime and minimum wage requirements.
The Salary Threshold For Flsa Exemptions For Highly Compensated Employees Will Increase To $151,164/Year.
The final rule provides for the minimum.
1, 2025, The Annual Salary.
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As A Result, The Dol Determines The Salary Threshold.
This rule will primarily impact employees with annual salaries between $35,000 and $44,000 as of july 1, 2024) and $44,000 and $58,656 (as of january 1, 2025).
The Salary Threshold For Flsa Exemptions For Highly Compensated Employees Will Increase To $151,164/Year.
On april 23, 2024, the dol published a final rule that raises the minimum salary threshold of the standard exemption for executive, administrative, professional, and outside sales employees, as well as some computer employees from the minimum wage and overtime protections under the flsa.
The Department’s Regulations Require Executive, Administrative, And Professional (Eap) Employees To Be Paid At Least A Minimum Salary Amount To Be Exempt From The Fair Labor Standards Act’s Minimum Wage And Overtime Requirements Under Section 13(A)(1).