The names of the ancestors are engraved on the stone tablet.
Tips
usage
镌 is literary and pairs almost exclusively with hard surfaces: 镌刻 (to carve), 镌石 (to engrave stone), 镌印 (to engrave a seal). For everyday 'carve', use 刻.
memory
The 钅 (metal) radical hints at engraving: you need a metal tool to cut into stone. 隽 on the right gives the sound.
Left metal radical (side-form of 金), the indexing radical. Anchors 镌 in the metalwork family with 锁 lock, 钉 nail, 锤 hammer, 锐 sharp. Engraving on metal, stone, or wood requires sharp metal tools, so the radical choice is concrete.
Right 隽 supplies the sound juān (exact match). 隽 itself originally pictured a plump bird and carries the sense 'fine, exquisite, lasting,' which dovetails neatly with engraving, work meant to endure. The figurative 'demote, reduce in rank' sense comes from a homophonous reading of 镌 in officialese.