Is El Maleh Rachamim reserved for funerals, or can it be used for personal prayer of mourning?

Both of my Jewish parents are dead now, and I want to learn some appropriate prayers for mourning them and want to continue to honor them partially through prayer. Is the El Maleh Rachamim an appropriate prayer to learn for them or is it only reserved for funeral occasions? What are some good Jewish prayers for the dead I can learn in memory of my parents? Thanks in advance, I know it’s Shabbos.