The painting talks about an ‘out of body experience’ where the kundalini has fully risen and the soul leaves from the Sahasra chakra which is on the top of his head. He is greeted by a devi/angel who gifts him a lotus which is a symbol of purity. The devil/angel has come to receive him and takes him to the 7th loka or Swarg (heaven).
The crow on top of the branch simply signifies death. The hour glass shows that time is limited and also relative.