After doing some tests and thanks to your help I now have a clear picture of what happens.
I installed the last preview of Yosemite on a disk partition of an old iMac (which is still capable of running it).
If I log into FaceTime on the Mac with my Apple ID without signing into iCloud, there is no possibility to receive and make calls (and the “iPhone Cellular Calls” option does not appear on my iPhone).
But if I also sign into iCloud on the Mac, both options (there is one on the Mac in the FaceTime Preferences too) magically appear. Finally “iPhone Cellular Calls” is visible (and on) on my iPhone and I can make and receive calls from my Mac. It works!
As soon as I sign off iCloud on the Mac, both options disappear.
So every device you own (signed into your iCloud account) checks with Apple if there are other devices running the latest operating system (iOS 8 & OS X Yosemite) on which you are also signed into iCloud with your Apple ID. It does not check if those devices really support Continuity features. That explains why the option is visible on my wife’s iPhone, although her iPad cannot make and receive calls. That was the missing link.
The devices must be on the same network to communicate with each other but the main thing for the options to appear is that they are all signed into iCloud with the same Apple ID. At first glance it seems odd that the Handoff feature is treated differently (regardless of the existence of more devices) but there must be a reason, of course.
Greetings to all.