Until you close position and if you are in profit then you get the profit payment.
The biggest issue with Indian options is that the lot sizes are so huge, that cost to sell a combination requires 100,000 in margin! If one look at options traded in US, the lot sizes are kept small to lure traders!
The margin is blocked instantly and usually debited by the broker at the end of the same day when you sell an option,this margin amount changes daily because of the movement in the underlying stock/index and the broker credits/debits the same to/from the clients account.
The seller gets the premium credited on T+1 day basis.
The margin amount is held by the broker until the seller square's off the position or expiration of the contract,after which the broker credits the amount back net of any profit/loss.