Open your image in Photoshop and add a blank layer which you will make the active layer.
Select All
Edit>Stroke
Select a color from the image to use for the frame.
Location: Inside
Choose as many pixels as you need to make the frame the Width you want.
Layer>Style Inner Shadow (adjust the slides to get the effect you want.
Note: the Inner Shadow will not be created unless you make the stroke on a blank transparent layer.