Federal Minimum Salary For Exempt Employees 2024. The final rule is expected in april, 2024. The minimum salary required to be paid to an eap employee for that employee to be exempt from the flsa overtime requirements would be $1,059 per week.
These salary requirements do not apply to outside. The department of labor has proposed increasing the federal minimum salary for exempt employees to $55,068.
The Amount For Which Deduction Can Be Claimed Is The Least Of The Following:
To qualify for exemption, employees generally must be paid at not less than $684 * per week on a salary basis.
The Salary Threshold For The Highly Compensated Employee Exemption Would Increase From $107,432 To $143,988 Annually.
The current salary threshold for exempt status for executive, administrative, and professional (eap) positions.
Effective January 1, 2024, The Minimum Wage Increases.
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To Qualify For Exemption, Employees Generally Must Be Paid At Not Less Than $684 * Per Week On A Salary Basis.
The salary threshold would increase from the current $684 per week ($35,568 per year) to $1,059 per week ($55,068 per year)—a 55% increase from.
As Of 2024, This Threshold Stands At $684 Per Week ($35,568 Annually).
If you make above that amount on a salary basis, you may qualify as exempt.
Effective January 1, 2024, The Minimum Wage Increases.