November 21, 2024 In April 2024, the US Department of Labor (DOL) finalized a rule that would increase salary thresholds for classifying employees as “exempt” from overtime requirements under the Fair Labor Standards Act (FLSA). Effective July 1, 2024, the rule’s salary threshold requireme...
Compensation Structure: The company must pay the employee a salary instead of an hourly wage. Only salaried workers qualify for overtime exemption. Minimum Salary Requirement: The salary must meet or exceed $455 weekly. This threshold ensures that the employee earns a stable income that aligns wit...
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