How to add a Papercut Effect using Adobe Photoshop
From the layers panel
step 1
Select the object layer and double click
To get the layer style panel
From the layers style panel
step 2
Choose the inner shadow option and adjust the options
Now copy the exact same effects to other objects in your creative
step 3
By hitting right click and then copy layer effect
Paste layer effect on the new object layer effect
step 4
By right-clicking and selecting paste layer effect
Watch the video here
You can learn how to do this too