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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. Thereafter, the rule provides for an automatic update to the threshold every three years based on wage data.

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. Thereafter, the rule provides for an automatic update to the threshold every three years based on wage data.

Creating an Employer PERM account Click on “Register,” Click on “Set up Employer Profile.” Accept the registration terms and conditions. Complete the next screen, which requests the name and title of the employer's contact person, along with the employer's name, address and Federal ID Number.

Beginning July 1, 2024, the final rule calls for an increase in the threshold for bona fide executive, administrative, and professional employees to $844 per week, which annualizes to $43,888 per year. The final rule will raise the annual compensation threshold for highly compensated employees to $132,964 per year.

Starting July 1, most salaried workers who earn less than $844 per week will become eligible for overtime pay under the final rule. And on Jan. 1, 2025, most salaried workers who make less than $1,128 per week will become eligible for overtime pay.

On April 23, 2024, the Department of Labor (DOL) issued the highly anticipated final rule to substantially change the minimum salary threshold and highly compensated employee (HCE) threshold under the FLSA. On July 1, 2024, the minimum salary threshold will increase 23.4% over the current threshold.