They will charge you 3050 for the premium service, and the following is included:
1) During the biometrics you will be seated in premium lounge which has some refreshments available. Although generally the whole process of biometrics takes only 30mins in total
2) When you get the PPR, i.e., the time to post your passport to the embassy. You will get priority service in pickup directly from VFS. If you don't take this service then it will be a normal blue dart service for pick-up. VFS claims that they will take 1-2 days for this while blue-dart can take upto 15days. Although blue-dart in majority of the cities work quite efficiently. If premium service opted then no need to pay for this, else blue-dart charges apply.
Also, important point, after stamping the courier back of the passport will be from blue-dart for all (irrespective of premium service) and extra payment needs to be made by everyone.
One myth that is there, that with premium service stamping process speeds up. The stamping is not in hands of VFS. Only thing they ensure is timely pickup of passport which can possibly make the process a little quick. (worst case scenario with blue-dart service).
So in all, what you get is one way pick up service of passport as part of premium service. And for this they will send you messages on where the passport is. This can also be tracked online for blue-dart for any courier.