Salary Exempt Minimum Wage 2024. The flsa allows for exemptions from the federal overtime (and minimum wage) requirements for certain employees who work in administrative, professional and executive jobs (known as exempt employees). The basic salary rule in india as of 2024 is at least 40 to 50% of the total salary package as per government regulations.
Starting july 1, 2024, the minimum salary requirement will rise to $844 per week, which equates to $43,888 annually. To be exempted from overtime and minimum wage as a highly compensated employee (“hcp”), the final rule increases the amount of annual compensation an.