Minimum Salary For Exempt Employees 2024. To be properly classified as “exempt,” employees must satisfy both a duties test and the minimum salary requirement. Effective july 1, 2024, the salary threshold will increase from the current $107,432 per year to $132,964 per year.
Effective january 1, 2025, the salary threshold will increase again to $151,164 per year. Six months later, on january 1, 2025, the salary threshold will increase again to $58,656.
Six Months Later, On January 1, 2025, The Salary Threshold Will Increase Again To $58,656.
This exemption, typically referred to as the “eap” exemption, applies when:
The 2024 California Minimum Wage Is $16.00 Per Hour.
Effective july 1, 2024, the salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on jan.
The Rule Increases This Minimum Salary Threshold, Initially To $844 Per Week ($43,888 Per Year) As Of July 1, 2024, And Then To $1,128 Per Week ($58,656 Per Year) As Of January 1, 2025.
Images References :
Thereafter, The Rule Provides For An Automatic Update To The Threshold Every Three Years Based On Wage Data.
Cea members can access our exempt analysis worksheets for guidance on properly classifying employees, on our hr.
Department Of Labor (“Dol”) Released A New Final Rule That Significantly Increases The Minimum Salary Threshold To Qualify For The Executive, Administrative, Professional, And Highly Compensated Employee Exemptions.
Ca minimum salary for exempt employees 2024.