Exempt Salary Thresholds Above The Flsa 2024. The rule will further raise the annualized salary threshold for the exemption for “highly compensated employees” (hce) to $151,164, up from $107,432. The rule is expected to result in about 4 million employees to lose their exempt status under the flsa.
First, the employee must be paid a total annual compensation of at least $132,964 as of july 1, which includes at least $844 per week on a salary basis. On tuesday, april 23, 2024, the u.s.
Under The Final Rule, The Salary Threshold For Executive, Administrative And Professional Employees Will Jump From The Current Level Of $684 Per Week ($35,568 Per Year) To $844 Per Week ($43,888 Annually) On July 1, And To $1,128 Per Week ($58,656 Annually) On January 1, 2025.
First, the employee must be paid a total annual compensation of at least $132,964 as of july 1, which includes at least $844 per week on a salary basis.
An Exempt Employee Is An Individual Who Is Exempt From The Overtime Pay And Minimum Wage Requirements Outlined In The Fair Labor Standards Act (Flsa).
The salary threshold for flsa exemptions for executive, administrative, and professional employees will increase to $855/week ($43,888/year) from $684/week ($35,568/year).
The Rule Is Expected To Result In About 4 Million Employees To Lose Their Exempt Status Under The Flsa.
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An Exempt Employee Is An Individual Who Is Exempt From The Overtime Pay And Minimum Wage Requirements Outlined In The Fair Labor Standards Act (Flsa).
On tuesday, april 23, 2024, the u.s.
Exempt Salary Thresholds Above The Flsa 2024 Standard.
The update significantly increases the salary level needed to qualify as exempt under the flsa’s white collar and highly compensated exemptions and calls for periodic increases to the required salary levels into the future.
The Salary Threshold For Flsa Exemptions For Executive, Administrative, And Professional Employees Will Increase To $855/Week ($43,888/Year) From $684/Week ($35,568/Year).