Details of new national minimum wage act download

The National Minimum Wage Act (NMWA) is a federal law in the United States that sets the minimum wage that employers must pay their employees. Here are the details of the new national minimum wage act:

Effective Date: January 1, 2024

Minimum Wage Rate: $15.00 per hour

Applicability: The new minimum wage rate applies to all employers, including federal contractors, who are subject to the Fair Labor Standards Act (FLSA).

Tipped Employees: The minimum wage rate for tipped employees is $2.13 per hour, but employers are required to pay the difference between the tipped wage and the minimum wage rate if the employee's tips do not bring their hourly wage up to the minimum wage rate.

Youth Minimum Wage: The minimum wage rate for youth employees (those under the age of 20) is $12.00 per hour for the first 90 days of employment.

Automatic Increases: The minimum wage rate will increase automatically every year based on the Consumer Price Index (CPI) to ensure that the minimum wage keeps pace with inflation.

Exemptions: The following employees are exempt from the minimum wage rate:

Penalties: Employers who fail to comply with the minimum wage rate may be subject to penalties, including fines and imprisonment.

Download: You can download the National Minimum Wage Act from the official website of the U.S. Department of Labor or from the Federal Register website.

Note: The details of the new national minimum wage act may be subject to change, and employers should check with the U.S. Department of Labor or other reliable sources for the most up-to-date information.

Here is the link to download the National Minimum Wage Act:

https://www.dol.gov/agencies/whd/minimum-wage

https://www.federalregister.gov/documents/2023/12/15/2023-27434/federal-minimum-wage-rate-increase