<div class="wrapper">
  <div class="bg">
    <div class="inner"></div>
  </div>
  <div class="content"></div>
</div>

.wrapper {
  display: inline-block;
  margin: 50px 300px;
  padding: 50px;
  width: 400px;
  height: 300px;
  background: green;
}
.bg {
  position: absolute;
  z-index: 2;
  padding: 50px;
  background: yellow;
}
.inner {
  width: 300px;
  height: 200px;
  background: white;
  border-radius: 15px;
  margin: 0 auto;
}

.content {
  position: absolute;
  background: red;
  width: 90%;
  height: 200px;
  top: 150px;
  left: 0;
}