Moved to VirusScan as a better spot for this subject.
A PUP is a potentially unwanted program so isn't necessarily bad. Whan VirusScan labels something as a PUP it's asking you what you want to do, keep it or delete it.
In this case 'System Volume Information' is the clue, that means it is finding it in your System Restore folders and as Windows protects them VirusScan can't get in there to deal with it.
If it's OK with you simply disable System Restore temporarily and that warning will disappear along with the file.
If you disable System Restore it will delete the file, along with your restore points. You wont need to delete anything.
As a precaution you might want a 3rd party opinion on how clean you machine is.
Download, install, update and run the FREE version of this tool: http://www.malwarebytes.org/products/malwarebytes_free
This tool can downloaded, installed, updated and run all in 'Safe Mode with Networking' if necessary (if an infection prevents normal installation).
Support Forum: http://www.malwarebytes.org/forums/