Literally, the couplet means that 'Meer' now has a saffron shroud around his neck, and only his title of 'Meerza' remains.

This profound couplet speaks to the ultimate resignation—the moment when life itself feels like a farewell. The 'saffron shroud' (गेरवी कफ़नी) signifies impending death, a physical ending. But the true immortality, according to Mir Taqi Mir, lies not in life, but in the memory of the beloved. The poet suggests that when everything else fades, the only thing that remains, the only reality, is the echo of the beloved's presence in your heart. It is a beautiful, heartbreaking acceptance of fate.