It definitely has to do with a gravestone. Of what I can read:
[see note below] Simon
Son of Joseph Zelling
- פ׳נ is a common preface, meaning "Here lies". The gap in the handwriting indicates that an image/engraving would be between them, possibly the Shield of David or a menorah.
- הזקן שמעון refers to his name (שמעון is "Simon") but the first word is troublesome. As I have transcribed it here it means "Old"... It may also have meant to been "Father".
- בּתר׳ יוסף זעללינג I think was written incorrectly (should be בּן ר׳יוסף זעללינג), but it says "Daughter of Joseph Zelling" and it was meant as "Son of ..."
- נפטר means "Died" so we know a date is coming...
- ונקבר means buried, or in full "And was buried" so we know a date is coming again...
Notes: יום can mean "day" or in numbers, "76". I am thinking in this case he meant to but the date on those lines after he died (obviously, he didn't know his death and burial dates!)
The rest of what I can't translate appears to be abbreviations. I will keep working it to see if I can figure the whole thing out.