The FLSA states that all non-exempt employees are entitled to overtime pay for working over 40 hours in a workweek. If an employee has exempt status, such as a salaried employee, you are not required to provide overtime. The rate of overtime pay must be no less than time and a ...
Are you an employer looking to calculate overtime for salaried employees? How about figuring out how to pay workers with sporadic hourly schedules, or day-rate schemes? This can be a headache for even the most conscientious accountant, and so we at actiTIME have simplified the rules to help ...
An Important Change in Overtime Regulations for Exempt Employees New overtime rules require that salaried employees making less than a specific amount qualify for, and must be paid for, overtime. The new rule has a higher salary level for exemption from overtime than the previous rule; that...
This perk is limited to salaried employees. Idaho: In lieu of overtime pay, compensatory time off, or "comp time," is an option where employees receive 1.5 hours of paid time off for each overtime hour worked. Any unused comp time at the end of a fiscal year is to be paid out ...
the Fair Labor Standards Act (“FLSA”). The DOL explained in anews releasethat this Rule would expand overtime protections “to lower-paid salaried workers.” As set forth below, the Rule directs that the first of the increases to the applicable salary thresholds begins on July 1, 2024....
According to aDOL press release, updated rule includes two-tiered increases to the minimum salary threshold and the threshold for highly compensated employees (HCE) as well as automatic updates to both thresholds. The minimum salary threshold will be increased to US$43,888 on July 1, 2024, and...
The article focuses on overtime pay requirements for salaried employees. According to the U.S. Department of Labor (DOL), federal overtime roles cover approximately 115 million employees or 86% of the country's workforce. More workers are filing cases against their current or former employers ...
When do you have to pay a salaried employee overtime? It's true that exempt employees work on a salary basis. But don't assume that all salaried employees are exempt employees. You may still have to pay salaried employees overtime if: ...
A federal judge in Texas has blocked a new rule from the Biden administration that would have expanded access to overtime pay to millions more salaried workers across the U.S.
In April 2024, the DOL announced the 2024 Rule, which significantly raised the minimum salary threshold for EAP employees—from $684 to $844 per week starting July 1, 2024, and further to $1,128 per week by January 1, 2025. Additionally, the rule included an automatic indexing mechanism ...