Flsa Minimum Salary 2024. On july 1, 2024, the first phase of the u.s. The department’s regulations require executive, administrative, and professional (eap) employees to be paid at least a minimum salary amount to be exempt from the fair labor standards act’s minimum wage and overtime requirements under section 13 (a) (1).
— the final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date on july 1, 2024, and on january 1, 2025, when. On april 23, 2024, the department of labor (dol) released a final rule that raises the salary thresholds for certain overtime exemptions under the federal fair labor standards act.