The mechanism of generation of the Bekenstein-Hawking entropy $S^{BH}$ of a black hole in the Sakharov's induced gravity is proposed. It is suggested that the "physical" degrees of freedom, which explain the entropy $S^{BH}$, form only a finite subset of the standard Rindler-like modes defined outside the black hole horizon. The entropy $S_R$ of the Rindler modes, or entanglement entropy, is always ultraviolet divergent, while the entropy of the "physical" modes is finite and it coincides in the induced gravity with $S^{BH}$. The two entropies $S^{BH}$ and $S_R$ differ by a surface integral Q interpreted as a Noether charge of non-minimally coupled scalar constituents of the model. We demonstrate that energy E and Hamiltonian H of the field...