Flsa Overtime Salary Threshold 2024. The rule also implements automatic updates to the threshold that will occur every three years. By july 1, 2024, the salary threshold requirement for the eap exemptions initially increases to $844 per week ($43,888 annually).
Department of labor released a final rule on april 23, 2024, raising the salary threshold to qualify for certain overtime exemptions under federal law. Under the final rule, the salary threshold will increase to $132,964 on july 1, 2024, and to $151,164 by jan.
But, This Threshold Is Only One Of Three Requirements Employees Must Meet For Flsa Exemption.
Department of labor released a final rule on april 23, 2024, raising the salary threshold to qualify for certain overtime exemptions under federal law.
The July 1 Increase Updates The Present Annual Salary Threshold Of $35,568 Based On The Methodology Used By The Prior Administration In The 2019 Overtime Rule Update.
Most importantly, it significantly raises the minimum salary threshold for certain “white collar” workers—executives, professionals, and administrative personnel.
1, 2025—An Increase Of Over 41% Over Today’s Current Minimum Salary Threshold.
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On July 1, Most Salaried Workers Earning Less Than $844 Per Week Will Become Eligible For Overtime Pay.
By july 1, 2024, the salary threshold requirement for the eap exemptions initially increases to $844 per week ($43,888 annually).
Effective January 1, 2025, The Salary Threshold Will Increase To $58,656.
The proposed rule would guarantee overtime pay for most salaried workers earning less than $1,059 per week, about $55,000 per year.
Department Of Labor’s Final Rule Raising The Minimum Salary Level Requirements For Application Of The Fair Labor Standards Act (Flsa) “White Collar” Exemptions Is Scheduled To Take.