Now hit your design with an Outer Bevel with these settings: Chisel Soft, Depth 100%, Down, Highlight Mode: Overlay (75%), Shadow Mode: Overlay (75%). Then add an Inner Shadow with "Blend Mode" set to "Multiply." The other settings, such as Opacity and Distance are variable depending on your picture. You can change them to add more depth to the carving, match the surrounding shadows, etc. Also, if your image is close-up, or you want a "hard edge" feel to it, use Chisel Hard instead of Soft.