Exempt Salary 2024. Workers are generally automatically exempt if they earn a salary of more than $107,432. Under this new rule, a worker must earn at least $43,888 beginning on july 1, 2024 to satisfy the salary basis test for overtime exemption.
Starting july 1, the rule would increase the threshold at which executive, administrative and professional employees are exempt from overtime pay to $43,888 from the current $35,568. This amount will increase to $58,658 beginning on january 1, 2025.
Starting July 1, The Rule Would Increase The Threshold At Which Executive, Administrative And Professional Employees Are Exempt From Overtime Pay To $43,888 From The Current $35,568.
The list includes some special districts in states but does not include all of said districts.
Department Of Labor (“Dol”) Released A New Final Rule That Significantly Increases The Minimum Salary Threshold To Qualify For The Executive, Administrative, Professional, And Highly Compensated Employee Exemptions Under The Fair Labor Standards Act (“Flsa”).
Department of labor (dol) regulations, exempt employees include executive, administrative, professional, and computer employees who perform certain duties, and earn at least $684 per week ($35,568 annually).
The List Does Not Include The City/County Thresholds For California.
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The Final Rule Is Expected In April, 2024.
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.
It Is Important To Note That Paying The Minimum Salary Alone Does Not Establish That An Employee Is Properly Classified As.
Some workers are specifically exempt from the flsa’s minimum wage and overtime protections, including bona fide executive, administrative or professional employees.
Currently, That Would Set Wages Based On The South Region.