To add to @chsanche answer. The reference to 15 minutes is the polling cycle for triggers that do polling. If a trigger is setup to use polling then the flow will check once every 15 minutes to see if the trigger fired. The purchased licenses are a much shorter polling period.
Hi @SufiyanM
The limits are not for a number of runs, but for the number of API request calls that each flow generates, you can view as an API request call each one of the actions within a Flow, for the Per User plan, you have a limit of 5000 API request calls and for the Per Flow plan, you have a limit of 15000 API request calls, both these values are for every 24 hours.
Best Regards,
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