Kuly died of a brain tumour May 22.
The song, entitled "Yaadan" (Memories) has been written by Kuly's father Harjog Singh and sung by Kuly's brothers Manj and Surj along with a verse sung by their father. The music and production of the track was composed by Kuly last year.
"This song was the hardest one we have ever had to sing, and was very emotional for us all. Dad would cry at every line he would sing. This song is from the heart and we hope the world appreciates it, " Manj said in a statement.
In a further tribute, urban bhangra singer Nindy Kaur will release a track featuring Kuly's vocal and a hook line produced for her by Kuly before he passed away.