So, what is the new overtime rule and salary threshold? Read on to find out. 2024 New overtime rule The Fair Labor Standards Act (FLSA) is a federal law that establishes overtime pay eligibility, alongside minimum wage, recordkeeping requirements, and child labor laws. Employers must ...
Effective July 1st, 2024, the salary threshold for overtime eligibility has increased to $844 per week (or $43,888 annually). This means more of your employees may now be entitled to overtime pay if they work over 40 hours in a week. ...
Classify employees correctly: Clearly define job roles and classify employees as exempt or non-exempt based on duties and salary. Maintain accurate records: Keep detailed records of hours worked and wages paid for all employees. Monitor child labor compliance: Ensure minors are working within the le...
Day, the U.S. Department of Labor (“DOL”) unveiled its Notice of Proposed Rulemaking (“NPRM”), aimed at revising the Fair Labor Standards Act’s overtime exemptions for executive, administrative, and professional employees. While the proposal—the cornerstone of which is a minimum salary…...