The Department of Labor recently finalized its proposed rule to increase the minimum salary requirements under the Fair Labor Standards Act (FLSA) for salaried exempt employees.
The rules apply to all employers, unless the organization is a localized non-profit or small family business. Precision Payroll has scheduled a seminar for July 14, 2016, to further describe the final rule and give specifics on the potential for exemption for some localized non-profits.
This new rule will require massive changes for companies, and Precision offers many tools and resources to help you transition to this new employment environment. These include an audit of your salaried exempt positions to ensure compliance, a spreadsheet to calculate the change from salaried exempt to non-exempt salaried/hourly with overtime (OT) hours, help desk services, and desktop-based timekeeping and tracking software