To deal with the major challenges of embedded sensor networks, we consider the use of magnetic fields as a means of reliably transferring both information and power to embedded sensors. We focus on a power allocation strategy for an orthogonal frequency-division multiplexing system to maximize the transferred power under the required information capacity and total available power constraints. First, we consider the case of a co-receiver, where information and power can be extracted from the same signal. In this case, we find an optimal power allocation (OPA) and provide the upper bound of achievable transferred power and capacity pairs. However, the exact calculation of the OPA is computationally complex. Thus, we propose a low-complexity power reallocation algorithm. For practical consideration, we consider the case of a separated receiver (where information and power are transferred separately through different resources) and propose two heuristic power allocation algorithms. Through simulations using the Agilent Advanced Design System and Ansoft High Frequency Structure Simulator, we validate the magnetic-inductive channel characteristic. In addition, we show the performances of the proposed algorithms by providing achievable ${eta}$-C regions.