New Exempt Salary Threshold 2024. The department’s final rule, which will go into effect on july 1, 2024, will increase the standard salary level that helps define and delimit which salaried workers are entitled to overtime pay protections under the flsa. As summer looms near, employers of salaried workers would be wise to prepare for anticipated increases to the salary basis threshold for certain categories of exempt employees under the fair labor standards act (flsa).
In addition, dol also is proposing automatic increases every three years to the overtime threshold. Salaried taxpayers opting for the new tax regime with effect from this financial year (or assessment.
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