Please get the PB service component installer PBSVC from this URL:
http://www.evenbalance.com/downloads/pbsvc/pbsvc.exe

Save it to your desktop. Start the tool and run through the uninstall process. After that, run it again and run through the install process. Make sure it uninstalls/installs correctly. Reboot the computer and then try playing again.

Please make sure you allow the service files in security software like virus scanners and/or firewalls. You will need to allow/unblock the services PnkBstrA.exe and PnkBstrB.exe from your "C:\Windows\system32\" folder. In case of doubt, manually add both to your firewall's allow list. After the installation process you will only find PnkBstrA, so just make sure this process file is not blocked. Then try playing on a PB enabled server, in case of a kick, check if PnkBstrB was created and unblock it too.