Department of labor published its final rule increasing the salary threshold for the white collar exemptions under federal minimum wage and overtime law:. The minimum salary requirements for exempt employees have also been revised:
The minimum salary required for exemption is two times the state minimum wage for the first 40 hours of employment each week. When coordinating increases in the minimum salary levels paid to employees considered exempt, employers should budget for two changes that will take effect within.
The Final Rule Is Expected In April, 2024.
This ensures that the employee’s.
Department Of Labor (“Dol”) Released A New Final Rule That Significantly Increases The Minimum Salary Threshold To Qualify For The.
To qualify for exemption, employees generally must be paid at not less than $684 * per week on a salary basis.
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These Salary Requirements Do Not Apply To Outside Sales.
A further increase will take effect on january.
The New Rule Increases The Minimum Total Compensation Threshold For.