Ed3XP

When you have an out of tram spindle, you will get the stepped edges on one side only, because the end mill is not vertical.
One side (the stepped side) has the tip of the end mill closer to the material than the top of the cutting edge.
On the other side, the top of the cutting edge is closer than the tip, and keeps cutting the full edge on the way down and keeps it smooth.

Given that you have this piece stepped edge on 2 sides, it indicates that you are out of tram in both the x and y directions.
You have stepped edges on the right and bottom edges, so your spindle needs to be moved
1. anti clockwise when viewed from the bottom side (to remove the steps on the right edge)
2.clockwise when viewed from the right side (to remove the steps on the bottom edge).

I can't tell by looking at your photo whether the z-axis or the spindle mount is out, so you will need to check/adjust both.

To tram the z axis you can do the following (there are other ways too).
1. surface your spoilboard
2. put your indicator in the spindle (or otherwise mounted to the moving part of your z-axis), with the indicator shaft horizontal.
3. mount a square to the spoilboard in the x+/x- direction
4. with the dial indicator facing one way only, run the z axis up and down.
5. shim/adjust the z axis mounts until any difference between the top and bottom is removed.
6. turn the dial indicator 90 degrees in the spindle & turn the square 90 degrees on the spoilboard in the y+/y- direction.
7. repeat 4 and 5.

Once you have trammed the z-axis, then you can tram your spindle by adjusting the spindle mounts.
1. lower the spindle to any given level such that your indicator (with the indicator shaft vertical) is giving you a reading on the spoilboard (or a flat sheet placed on the spoilboard). Position on the x+ side of the spindle. zero
2. turn the spindle 180 degrees (x- side of spindle) and read.
3. shim/adjust your mount so that the difference between the 2 readings is reduced to zero (or as close as possible).
4. repeat 1,2&3 in the other orientation (y+/y-).

You'll have to work out what you can adjust and/or shim. This depends on your machine.

Hope that helps.

Paul