Highly Compensated Employee 2024 Exemption. Under the federal fair labor standards act (flsa), employees generally must be paid an overtime premium of 1.5 times their regular rate of pay for all hours. To be exempt from overtime, an employee must meet both a salary test and a duties test.
It’s crucial for both employers and employees to. Don’t forget to review employees who formerly qualified for the highly compensated exemption (hce).
Highly Compensated Employee (Hce) Exemption Q:
A highly compensated employee is deemed exempt under section 13(a)(1) if:
The Highly Compensated Employee Floor Would Increase To $151,164.
It also proposes increasing the highly compensated employee exemption threshold to $143,988 annually.
These Changes Emphasize The Importance Of Staying Informed About The Evolving Salary Thresholds To Ensure Compliance With The New Overtime Exemption Rule.
Who is considered a highly compensated employee?
Such Measures Are Expected To Make The New Regime More Competitive And Beneficial For A Wider Range Of Taxpayers.
Meanwhile, the annual compensation threshold for the highly compensated employee exemption will.