The New Overtime Rule & What it Means for You
Construction Business Owner
JULY 17, 2016
On May 18, 2016, the Department of Labor (DOL) issued a final rule that raises the minimum salary an employee has to make in order to qualify to be exempt from overtime pay from $23,660 to $47,476. For your company, this means that any salaried employee currently on your payroll making less than the minimum threshold must now be paid overtime pay for all hours worked in excess of 40 hours per week.
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