Do wages form part of current liability?

Yes; these are wages payable, which are current liabilities. These are the obligations that a business hopes to pay off in a small period of time and that is in less than a year or less than a single operation cycle: whichever is more important. This is why the wages are recorded as current liabilities since the wages are usually paid after every week or two weeks or per month. A proper identification of them aids in the company in presenting of realistic view of short-term financial needs and liquidity. Classification of wages payable has to be properly done in order to maintain compliance, financial reporting and informed decision making by stakeholders.