Flsa Final Rule 2024
Department of labor (dol) published its final rule on the standard for determining who is an employee or independent contractor under the fair. Department of labor released a final rule on april 23, 2024, raising the salary threshold to qualify for certain overtime exemptions under federal law.
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. “this rule establishes clear, predictable guidance for employers on how to pay employees for overtime hours and provides more economic security to the millions of people.