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Department of Labor has been thwarted in its attempt to expand the overtime rule after accusations of exceeding its authority. For now, the 35k overtimesalary threshold remains as it was before the DOL attempted to increase it to $43k. Image: Freepik What Is the Overtime Rule under the FLSA?
As 2024 unfolds, employers across various industries are grappling with new overtime regulations that significantly impact their operations and labor costs. This comprehensive guide will delve into the new overtime rules, explaining their implications for employers, and offering practical advice on compliance.
These employees typically earn a salary, not an hourly wage, and are paid above the threshold set for that period. These salaries also do not get lowered due to the quality or quantity of their work. When we say exempt it means that these employees are exempt from being considered under the minimum wage and overtime pay regulations.
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