Section 10(2) in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
(2)The successful applicant who has been given the certificate shall be required to submit a security deposit in the form of bank guarantee or bank fixed deposit, with proper lien marking, in favour of the authority, which deposit shall be equivalent to one percent of its net worth or rupees five lakh, whichever is higher. The maximum security deposit shall not exceed rupees twenty lakhs. The stipulated security will not be released to the applicant unless the prior permission of the Authority is obtainedProvided that in respect of an applicant, which proposes to seek registration solely for conduct of activities under the Atal Pension Yojana (APY) scheme or for entities /departments/ministries of central & state governments, the requirement of submission of security deposit shall not be applicable.
